Executive reshuffle underway at Ulstein as CEO steps away from operations

Current chief financial officer Cathrine Marti has been promoted to the chief executive position, starting 2 November. The executive reshuffle will drive Ulstein to implement further management changes, including appointment of a new chief financial officer.

“Ulstein is a family owned company,” said Ms Ulstein. “With my decision to step down from the operational role, I will be able to, through my role as chair of Ulsmo (Ulstein Group’s majority owner) and together with the chair of the board of Ulstein Group, concentrate on the more long-term and strategic opportunities for the group and the maritime industry,” she said. “I will continue my engagement to ensure a viable future for the group.”

Ms Ulstein’s brother, Tore Ulstein, stepped down from his operational role on 1 September 2020, but retains his position as chairman of the board.

During her 22 years at the helm of Ulstein Group, Ms Ulstein saw the company through myriad challenges, the latest being brought about by the global coronavirus pandemic.

“We have always adapted the group to the market, and we will continue to do so through continuous change and development,” Ms Ulstein said. “After having completed the transition from oil and gas and into new segments, Covid-19 put us to the test.

"Coronavirus has impacted Ulstein, just as it has many other businesses, regardless of industry. We have adapted to a new everyday life and constantly changing regulations, and we must expect to continue with this until a vaccine is in place,” Ms Ulstein said.

New CEO, Ms Marti, has served as chief financial officer for six years, having previously worked for Höegh Autoliners and DnB Shipping & Offshore.